The present invention is directed to an annular multi-layer radial lip seal assembly. More particularly, it is directed to such a lip seal assembly which includes a molded elastomeric portion which provides the static or secondary seal. Numerous prior art patents disclose lip seal assemblies, including lip seal assemblies having a molded elastomeric portion. These include U.S. Pat. Nos. 602,746, 1,941,025, 3,549,445, 3,801,114, 3,938,813, 4,042,248, 4,171,561, 4,194,748, 4,504,068, 4,583,749, 4,591,168, 4,623,153, 4,650,196 and 4,664,392. None of the foregoing patents disclose the features of the present invention.